r/rxrx

Everyone is panicking over the brutal Q2 headlines because revenue missed by 37 percent with a 7.67 million dollar result versus the 12 million expected. The 131 million dollar net loss is definitely an ugly look, and Wall Street is entirely focused on the near term cash burn right now. However, if you look past the balance sheet, Recursion quietly dropped some massive proof of concept data that directly validates their entire AI platform.
They officially advanced their first previously unexplored neuroscience target into a joint early discovery program with Genentech. While the exact gene and disease pathway are hidden behind confidentiality agreements, the sheer scale of how they found it is pure sci fi. Their team mass produced over 1 trillion fragile human brain cells, systematically knocked out 17000 plus genes using CRISPR, took 30 million microscopic images of the cellular changes, and let an AI foundation model map out the results to flag a brand new therapeutic target.
The biggest bear case against TechBio has always been that AI drug discovery is theoretical and won't find novel biology that big pharma actually values. Moving this target triggers a milestone progress report and proves that their massive 12 billion dollar partnership with Roche and Genentech is actively delivering. The financials will always be lumpy while waiting for milestone payments, but the core thesis of their industrialized pipeline just scored a massive practical win.

Are you buying this dip, or holding off until the cash burn settles?

FYI not financial advice

State Street thus joins Vanguard among Recursion's largest institutional shareholders:

31,369,274 shares

5.97%

as of June 30, 2026 filing dated July 31, 2026

Source: https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=320253359&type=HTML&symbol=RXRX&cdn=98c3e749297bb37421f11904ee5cd9bf&companyName=Recursion+Pharmaceuticals+Inc.&formType=SCHEDULE+13G&formDescription=Statement+of+acquisition+of+beneficial+ownership+by+individuals&dateFiled=2026-08-07

Top 15 RXRX Shareholders

1 BlackRock 44,541,605 8.50%

2 ARK Investment Management 40,212,769 ~7.6%

➡️ 3 State Street 34,706,130 6.60%

4 Vanguard Portfolio Management 31,369,274 5.97%

5 Lux Ventures IV / Lux ~30.31M ~5.7%

6 Vanguard Capital Management 26,744,129 5.09%

7 Baillie Gifford 23,487,907 ~4.5%

8 SoftBank Group 13,636,515 ~2.6%

9 DCVC 13,619,224 ~2.6%

10 Geode Capital Management 12,275,084 ~2.3%

11 MIC Capital Management 9,644,032 ~1.8%

12 Mubadala Investment 7,062,869 ~1.3%

13 Christopher Gibson ~6.3–6.8M* ~1.2%

14 Blake Borgeson 6,188,287 ~1.2%

15 Dean Li / affiliate holdings ~3.3M ~0.6%

what a traitor to the cause!